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HONG KONG, China (AFP) — Asian markets fell on Friday, putting the region on course to end a broadly positive week on a sour note, as traders took a step back and their profits off the table. There was also some unease after the head of the European Central Bank raised concerns about the growth outlook for the eurozone owing to issues within and outside the bloc. The pound showed some resilience, even as European […]
HONG KONG, China (AFP) — Asian shares turned lower Friday following losses in New York and Europe as traders fret over the state of the global economy, with potentially big market-moving events coming into focus. After a healthy run of recent gains helped by rising oil prices, investors took a step back as the head of the European Central Bank (ECB) called for action to kickstart eurozone growth — which was taken as a sign its […]
FRANKFURT, Germany (AFP) – A group of German businessmen and academics are taking the European Central Bank to court over its controversial bond-buying programme, their lawyer said on Tuesday. A complaint against the ECB’s corporate sector purchase programme was filed at Germany’s highest court, the Constitutional Court, on May 12, a court spokesman told AFP. The business leaders argued that the central bank was “going beyond its mandate” in purchasing corporate bonds as part of its […]
WASHINGTON, United States (AFP) — The IMF on Sunday defended negative interest rates set by central banks, given “significant risks” of slow growth, while acknowledging potential for dangerous boom-and-bust cycles. Six central banks, notably the European Central Bank and the Bank of Japan, have taken the unprecedented measure, aimed at loosening the reins on credit to help spur consumer spending and investment. “Although the experience with negative nominal interest rates is limited, we tentatively conclude that […]
HONG KONG, China (AFP) — Asian markets mostly fell early Friday after the head of the European Central Bank suggested its latest rate cut could be its last, stoking fears over the limitations of finance chiefs to drag the global economy out of its torpor. The ECB on Thursday announced a cut in its deposit rate further into negative territory as part of a series of stimulus measures that also included a ramping up of its huge […]
ATHENS, Greece (AFP) — Greek Prime Minister Alexis Tsipras said Tuesday that an EU-IMF audit of the debt-laden country’s reforms would likely resume by March 10, hinting that the process was being delayed by divisions among the creditors. “My estimate is that (senior creditor representatives will) return in the first ten days of March,” Tsipras said in a televised interview. “There must finally be agreement between the (creditors) so we can move forward,” he told Star TV. […]
A nail-biting time it certainly is – and if traders in Frankfurt were hoping for a magic rabbit from the European Central Bank (ECB) – they didn’t get it. But they did get a promise – after interest rates were held again at record low levels. MARIO DRAGHI, EUROPEAN CENTRAL BANK PRESIDENT: “It will therefore be necessary to review and possibly reconsider our monetary policy stance at our next meeting in early March.” The market crash […]
Greeks voted overwhelmingly on Sunday to reject terms of a bailout, risking financial ruin in a show of defiance that could splinter Europe. With nearly half of the votes counted, official figures showed 61 percent of Greeks rejecting the bailout offer. An official interior ministry projection confirmed the figure as close to the expected final tally. The astonishingly strong victory by the ‘No’ camp overturned opinion polls that had predicted an outcome too close to […]
(REUTERS) Greek ministers arrived in Athens on Sunday (June 21) for a full cabinet meeting with Prime Minister Alexis Tsipras to discuss concessions the government may present at an emergency eurozone summit on Monday (June 22). Greece’s left-wing government promised on Saturday (June 20) to offer concessions to creditors to unlock billions of euros in funds and stave off default. With its banks hanging on life support from the European Central Bank, and billions of […]
(Reuters) – The euro was deep under water on Friday, having suffered its steepest fall in three years after the European Central Bank stunned markets by cutting interest rates and embarking on a trillion-euro asset-buying binge. The aggressive shift sent short-term bond yields into negative territory in Germany, France, the Netherlands and Austria, giving investors an overwhelming incentive to sell euros for higher-yielding assets elsewhere. That stood in stark contrast to the United States, where upbeat data […]
